Why economic development deviates from human development

• Authors: Juri Sepp , Diana Eerma
• Languages of publication: EN

Abstracts

EN

The aim of this article is to analyze and explain closer deviations in the economic and human development trying to reach to theoretical as well empirical explanations. The institutional economics offers a starting-point with its understanding that just institutions are stimulation systems for the society. The quality of human capital may be insofar as good itself, but without free and secure institutional environment there is a little hope for the motivated activity of individuals. Besides it the different countries are with very different natural environment and what is especially important - with different natural resources. In the current work we perform two empirical regression analyses - one on transition countries and another on aggregated dataset. Doing so makes possible to perceive robustness of the results. The data of human and economic development originate from the HDR 2009 and characterize the year 2007. The institutional measures are from the Heritage Foundation database of the year 2009. Regarding natural resources we use the DICE database from IFO- Institute. (original abstract)

Keywords

EN

Economic development; Economic growth; Human capital

PL

Rozwój gospodarczy; Wzrost gospodarczy; Kapitał ludzki

• Publisher: Instytut Naukowo-Wydawniczy "SPATIUM"
• Journal: Central European Review of Economics & Finance
• Year: 2011
• Issue: Vol. 1, No 1
• Pages: 13-27

Contributors

author

Juri Sepp

author

Diana Eerma

References

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• Heritage Foundation. Economic Freedom. http://www.heritage.org/Issues/Economic-Freedom
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